WAVE vs. TSM

Last updated Aug 1, 2026

WAVE (Eco Wave Power Global AB (publ)) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. WAVE operates in Utilities - Renewable (Utilities), while TSM operates in Semiconductors (Technology). Over the past 5 years, WAVE returned -2.15%/yr vs 30.32%/yr for TSM. Their 0.10 correlation means their historical movements had little consistent relationship.

Performance

WAVE vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eco Wave Power Global AB (publ) (WAVE) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAVE achieves a 25.01% return, which is significantly lower than TSM's 33.71% return.

WAVE

• 1D: -2.01%
• 1M: -21.08%
• 6M: 44.55%
• YTD: 25.01%
• 1Y: -11.30%
• 3Y*: 40.36%
• 5Y*: -2.15%
• 10Y*: —
• ALL TIME*: -14.31%

TSM

• 1D: 0.23%
• 1M: -6.89%
• 6M: 22.92%
• YTD: 33.71%
• 1Y: 73.74%
• 3Y*: 62.43%
• 5Y*: 30.32%
• 10Y*: 33.46%
• ALL TIME*: 16.20%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TSM Taiwan Semiconductor Manufacturing Company Limited	$6.03B	$6.30B	$6.05B
WAVE Eco Wave Power Global AB (publ)	$176.35K	$230.96K	$710.20K

WAVE vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WAVE Eco Wave Power Global AB (publ)	25.01%	-46.92%	787.10%	-58.34%	-30.95%	-73.06%
TSM Taiwan Semiconductor Manufacturing Company Limited	33.71%	55.91%	92.58%	42.33%	-36.75%	0.95%

Correlation

The correlation between WAVE and TSM is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.12
Correlation (5Y) Shows whether the relationship held over a longer period.	0.09
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.10

Fundamentals

Market Cap WAVE : $42.63M TSM : $2.10T
EPS WAVE : -$0.67 TSM : NT$432.27
PS Ratio WAVE : 1.12K TSM : 15.26
PB Ratio WAVE : 8.52 TSM : 10.56
Total Revenue (TTM) WAVE : $38.11K TSM : NT$4.45T
Gross Profit (TTM) WAVE : $22.06K TSM : NT$2.86T
EBITDA (TTM) WAVE : -$2.97M TSM : NT$3.20T

Return for Risk

WAVE vs. TSM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WAVE

WAVE Risk / Return Rank: 35
WAVE Sharpe Ratio Rank: 34
WAVE Sortino Ratio Rank: 37
WAVE Omega Ratio Rank: 36
WAVE Calmar Ratio Rank: 33
WAVE Martin Ratio Rank: 33

TSM

TSM Risk / Return Rank: 87
TSM Sharpe Ratio Rank: 88
TSM Sortino Ratio Rank: 85
TSM Omega Ratio Rank: 82
TSM Calmar Ratio Rank: 88
TSM Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WAVE vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eco Wave Power Global AB (publ) (WAVE) and Taiwan Semiconductor Manufacturing Company Limited (TSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WAVE	TSM	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	1.71	-1.94
Sortino ratio: Return per unit of downside risk	0.16	2.33	-2.17
Omega ratio: Gain probability vs. loss probability	1.02	1.28	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.32	3.23	-3.55
Martin ratio: Return relative to average drawdown	-0.59	10.80	-11.39

WAVE vs. TSM - Sharpe Ratio Comparison

The current WAVE Sharpe Ratio is -0.23, which is lower than the TSM Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of WAVE and TSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WAVE vs. TSM - Drawdown Comparison

The maximum WAVE drawdown since its inception was -94.47%, which is greater than TSM's maximum drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for WAVE and TSM.

Drawdown Indicators

	WAVE	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-94.47%	-89.08%	-5.39%
Max Drawdown (1Y) Largest decline over 1 year	-52.58%	-21.55%	-31.03%
Max Drawdown (3Y) Largest decline over 3 years	-70.59%	-36.82%	-33.77%
Max Drawdown (5Y) Largest decline over 5 years	-89.17%	-56.47%	-32.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.47%	—
Current Drawdown Current decline from peak	-61.15%	-15.35%	-45.80%
Average Drawdown Average peak-to-trough decline	-71.68%	-42.69%	-28.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.37%	6.43%	+21.94%

Volatility

WAVE vs. TSM - Volatility Comparison

Eco Wave Power Global AB (publ) (WAVE) has a higher volatility of 15.58% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 13.76%. This indicates that WAVE's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAVE	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.58%	13.76%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	56.75%	33.07%	+23.68%
Volatility (1Y) Calculated over the trailing 1-year period	72.52%	40.75%	+31.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.02%	38.35%	+99.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.22%	34.75%	+107.47%

Dividends

WAVE vs. TSM - Dividend Comparison

WAVE has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSM Taiwan Semiconductor Manufacturing Company Limited	0.87%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%
WAVE Eco Wave Power Global AB (publ)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both WAVE and TSM in my portfolio?

WAVE and TSM have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAVE or TSM?

WAVE has higher volatility (15.58%) compared to TSM (13.76%). In terms of maximum drawdown, WAVE dropped -94.47% vs TSM's -89.08%.

Which has better risk-adjusted returns?

TSM currently has the higher Sharpe Ratio (1.71 vs -0.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.